Laserfiche WebLink
CAPITAL IMPROVEMENT POLICIES <br />PURPOSE <br />To ensure capital expenditures are well planned to enable the <br />city to replace capital items when needed, without requiring <br />significant fluctuations in tax levy. <br />SCOPE <br />Al1 departments and funds are included in the Five Year Capital <br />Improvement Program (CIP). The CIP identifies the timing and <br />!_ financing of all capital items. <br />POLICY <br />All capital improvements shall be made in accordance with an <br />adopted Capital Improvement Program. <br />The City will develop a Five Year Plan for capital improve- <br />ments and update it annually. <br />. The City will enact an annual capital budget based on the <br />multi-year Capital Improvement Plan. Future capital expendi- <br />tures necessitated by changes in population, changes in real <br />estate development, or changes in economic base will be <br />identified and included in capital budget projections. <br />. The City will coordinate development of the capital improve- <br />'- ment budget with development of the operating budget. Future <br />operational costs associated with new capital improvements <br />, will be projected and included in operating budget forecasts. <br />. The City will provide ongoing preventative maintenance and <br />upkeep on all its assets at a level adequate to protect the <br />City's capital investment and to minimize future maintenance <br />and replacement costs. <br />. The City will identify the estimated costs and potential <br />funding sources for each capital project proposal before it <br />is submitted to Council for approval. <br />. The City will determine the least costly financing method for <br />all new projects. <br />E- 3 <br />